
Sapphire Energy recently announced it is planning to build a plant that will produce green algae-based biofuel to replace fossil fuels in diesel-operated vehicles and jets.
A USDA loan for $135 million will fund the green energy project that is planned to make transportation more eco-friendly.
The plant is projected to be built in New Mexico and intended to modernize the U.S. industry that makes large-scale commercial fuels. By undertaking the project, Sapphire aims to fight climate change, reduce the country's dependence on fossil fuels and create jobs in the renewable resources industry.
According to Reuters, the plant is planned to produce at least a million gallons of algal oil a year, which will replace fossil fuels without the need for new delivery infrastructure or engines.
"It's hard not to get excited about algae's potential," said Paul Dickerson, COO of the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy. "Its basic requirements are few: carbon dioxide, sun, and water. Algae can flourish in non-arable land or in dirty water, and when it does flourish, its potential oil yield per acre is unmatched by any other terrestrial feedstock."
This project comes after United Airlines marked their first biofuel-powered commercial flight on November 7, Many other airlines are expected to receive more environmentally friendly fuel.
The Renewable Energy Police Network for the 21st Century reported that global investment in renewable energy reached a record of $30 billion in 2004 and is increasing every year.

